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Purdue Trustees Approve Land Agreement

Purdue Trustees Approve Land Agreement

23 December 2014

US - Purdue University's Board of Trustees has authorised two transactions that will make available more than 270 acres of land for research in the College of Agriculture.

The board approved leasing a 126-acre tract of land from the Purdue Research Foundation and purchasing a second 148-acre tract.

The land, located adjacent to the Purdue Agronomy Center for Research and Education, will support expanding research needs.

Under the 10-year lease agreement, the College of Agriculture will make an annual payment of $150,000 and supplement the payment with crop-sharing revenue. The second tract, also owned by PRF, will be purchased by the university for $1.85 million.

In other business, the board's Physical Facilities Committee on Friday (December 19) approved awarding construction contracts for projects in the Krannert and Physics buildings. Neither project required full board approval.

The $2.2 million Krannert construction contract, awarded to Commercial Air Inc. of Lebanon, Indiana, will replace and rezone major air handling units for the entire building.

The project, estimated to be completed in August 2016, will be financed with bond proceeds from the university's Repair and Rehabilitation Financing Program.

The $2.2 million Physics Building construction contract, awarded to Long Electric Co. Inc. of Indianapolis, is the first phase to replace and upgrade the secondary electrical distribution system in Physics South.

The project, estimated to be completed in August 2015, will be financed with repair and rehabilitation funds.

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